Chart Industries Stock Price, News & Analysis

Chart Industries (GTLS) has expanded its cooperation with Howden and Hydrexia to enhance hydrogen refueling solutions across Australia, New Zealand, and Southeast Asia. This partnership aims to create complete refueling station solutions, leveraging advanced compression, storage, and transport technologies. With a history of nearly 40 delivered refueling stations, the collaboration intends to streamline costs and improve delivery times for customers. Hydrexia, which has executed 58 hydrogen refueling station projects since 2016, will contribute its expertise in high-speed fueling solutions. This expansion aligns with a growing focus on hydrogen infrastructure in Asia, potentially advancing the hydrogen economy regionally.

Chart Industries (NYSE: GTLS) has expanded its Memorandum of Understanding with Wolf Carbon Solutions U.S. LLC to jointly develop projects utilizing Chart's Sustainable Energy Solutions (SES) Cryogenic Carbon Capture (CCC) technology. This collaboration aims to implement carbon capture along Wolf's Mt. Simon Hub carbon pipeline system, which connects Cedar Rapids, Iowa, to central Illinois. The initiative is designed to capture carbon emissions from various industrial sources, promoting decarbonization efforts in sectors like refineries and power generation. Both companies will leverage additional equipment from Howden to enhance carbon capture capabilities and expand CO2 emitter coverage across the U.S.

Chart Industries (GTLS) will host a conference call on April 28, 2023, at 8:30 a.m. ET to discuss Q1 2023 financial results. The company anticipates issuing its earnings release prior to market opening on the same day. Chart reported a strong demand for Q1 2023, with orders approximating $740 million, including the ownership period for Howden. Furthermore, the company noted record backlogs for both Chart and Howden standalone operations. Additional insights regarding performance, future projections, and debt reduction efforts will be shared during the upcoming call. For further details, stakeholders can refer to Chart’s Form 8-K filed with the SEC.

Chart Industries (GTLS) has expanded its partnership with McPhy Energy and Larsen & Toubro (L&T) to enhance opportunities in the green hydrogen market. L&T will manufacture electrolyzers based on McPhy’s technology, including a Gigawatt-scale facility. Chart and McPhy have a commercial MOU for hydrogen production processes. This collaboration aims to strengthen the hydrogen economy in India, leveraging Chart's capabilities in hydrogen compression and McPhy's electrolyzer technology. Both Chart and L&T are positioned to lead in the growing hydrogen market, reflecting a significant step towards decarbonization efforts in India.

Chart Industries (GTLS) and Nikola Corporation (NKLA) announced a strategic collaboration to develop hydrogen infrastructure solutions, including liquid hydrogen storage tanks and modular refueling stations. This partnership aims to support Nikola's efforts in deploying hydrogen electric vehicles, bolstering zero-emission transportation. Nikola has placed orders for various hydrogen storage and refueling equipment to facilitate its vehicle deployment, which is designed to help decarbonize the transport sector. The new solutions promise lower capital investment and operational costs, making it easier for smaller fleets to adopt hydrogen technology.

Chart Industries completed the acquisition of Howden for approximately $4.4 billion, enhancing its offerings in industrial gas, LNG, hydrogen, and carbon capture.

This strategic move aims to create a differentiated product range and is expected to generate $175 million in annualized cost synergies and $150 million in commercial synergies within the first year. Chart's 2023 guidance reflects these changes, with a projected increased geographic footprint spanning over 35 countries.

Despite strong demand in early 2023, Chart is pursuing divestitures of two product lines, with completion anticipated by mid-2023.

Chart Industries (NYSE: GTLS) and ZEV Stations, Co. have signed a Memorandum of Understanding (MoU) to collaboratively develop multimodal hydrogen stations in the U.S. utilizing Chart's equipment. The initiative aims to optimize fueling for heavy-duty vehicles, combining both gaseous and liquid hydrogen standards at a single station, capable of filling up to 8 kg per minute. Chart will provide liquid hydrogen fuel station equipment, benefiting from nearly 60 years of experience in hydrogen manufacturing. The partnership focuses on accelerating the transition to hydrogen as a clean fuel alternative while enhancing operational efficiency.